EURAUD Short - TP Hit

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bax699

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TP has been hit on EURAUD . Since sunday before last we went for the short on this pair. Since then over the last two weeks we have made 500 pips. Pretty good off one pair dont you think.
Seeing as though its friday and we have hit the furthest projected target i would close positions on this if you followed.
now we are in this small triangle area i would wait to see which way in the big rectangle we go. Will we retest the broken support above for another drop , or break back above for another push up.
Who knows, but lets wait and see for the direction.
Have a good weekend everyone and enjoy them pips
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Well done 500 pips in the bag just like you anticipated . As you say whatever price decides to do we will follow her
 
bax699 said:
TP has been hit on EURAUD . Since sunday before last we went for the short on this pair. Since then over the last two weeks we have made 500 pips. Pretty good off one pair dont you think.
Seeing as though its friday and we have hit the furthest projected target i would close positions on this if you followed.
now we are in this small triangle area i would wait to see which way in the big rectangle we go. Will we retest the broken support above for another drop , or break back above for another push up.
Who knows, but lets wait and see for the direction.
Have a good weekend everyone and enjoy them pipsView attachment 274659
Click to expand...
Been watching your charts for a while and reading the analysis. not trading as studying a lot, wish i followed this chart would have made a killing!
 
After taking profit on the big drop from the top with 500 pips. Its back on EURAUD this weekend to look for the next setup. As you can see pricehit that support level and has bounced right back up and hit the .618 fib. Where from here? either reject off the fib and come back to the .382 fib and support level for another push?
Or could we still see further push up for the double top M formation as drawn. Either one we can be ready to enter. Keep your eyes peeled on this one peeps. Personally id like to see it test the top resistance again, its such an easy trade to take with little risk involved. Enjoy your weekend see you all on monday :)
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Late one today sorry ive been busy. Looking at EURAUD again today as its approaching a critical zone. Were almost back up to the top from where we sold last time. But this time i dont think we will see such a big drop . In my opinion i think we will get a shorter drop of around 300 pips or so, maybe even a little less before another attack of the top zone. Look for this daily candle wick to fill and then rejection round the top to sell. Thats what i will be doing GLIYF
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Sunday reflection today. Back early last week we was looking for EURAUD to turn around in the magic bluc circle on the resistance zone . Turns out this blue circle wasnt magic and the EUR shot right through it in a MASSIVE bull move. AUD being so weak in all this world economic uncertainty was a big cause. But where from here? With china pmi data being so low on this weekends release its hard to look past AUD gaining any strength at all in the near future. Were way oversold on the daily RSI so i would expect some sort of retracement, but how big or small im not sure. The .618 fib level on 1.66 looks favorable to me. Then we could see a further push to the top of the channel possibly. All depending on the china and this virus situation. See you all tomorrow
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Well we have now had some retracement from the huge bull push on EURAUD . The AUD RBA cut helped that fact, but is it short lived? time will tell. Since i last looked at this pair we have dropped a couple of hundred pips or so and find ourselves sitting at the previous high high. Could this be the support shelf that will hold price up? who knows, my guess is we will see a further push down towards that .618 fib at least or possibly the previous high which we know is a strong zone which could act as good support now. Looks certain the bull is here to stay so long opportunities can be made around those areas. Trade safe, risk management as always
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EURAUD has surpassed all expectations i had of this pair. The virus situation certainly has killed the ozzie dollar the most. We are having to look at the WEEKLY chart to see possibilities of what will happen next.
To me it looks like we could be heading towards the weekly 0.236 fib from the previous high. Will it stop there? My idea would be that it comes back for some support around 1.83-1.85 area for another push towards the BIG round number of 2.0000. Its also possible we could even break higher to make all time new highs. Obviously thats dependant on how long this corona situation drags on. But for now certain bull is very strong and buying on pullbacks is a good way to trade it. GLIYF
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Sunday so im looking ahead for the week beginning. Back to EURAUD and oh my days what a mover its been. The weekly resistance of 1.66 area that has been tested a few times and held over the last 5 years has well and truly been smashed. We breezed right past and upwards towards the round number of 2.00. but we rejected just before we got there. But as you can see from price action we have wicked up from the .786 fib level and it seems to be making that level a nice support shelf. Possibly for the next move upwards, you can see just above the highest price this pair has ever been at in 2009, will we get there again and break above? With australia just going into lockdown and the virus still spreading its certainly a possibility. Look for signs of a buy on that support level . Risk management as always GLIYF
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